UK government advances growth mission overseas by strengthening links with leading European businesses
Minister Stephen Doughty will travel to Madrid and Lisbon to meet with counterparts and senior representatives from top European businesses.
- Minister Stephen Doughty to visit Spain and Portugal to reset relationships and advance opportunities for investment and growth with European partners
- Trip to Madrid and Lisbon includes talks with world-leading companies Iberdrola and Avincis to explore further opportunities to deliver UK jobs and growth.
- Demonstrates how Government is leveraging international engagement to deliver its Plan for Change and make Britain better off
Today (Thursday 16 January) as part of the Government’s priority to kickstart economic growth, Minister of State for Europe, North America and Overseas Territories Stephen Doughty will travel to Madrid and Lisbon to meet with counterparts and senior representatives from top European businesses to foster closer ties and explore opportunities for investment and jobs in the UK.
With a trading relationship worth £63 billion annually, the UK is the number one European destination for Spanish investment. To build on this the Minister will visit Iberdrola Innovation Centre in Madrid – one of the biggest energy companies in Europe – to tour the training campus and see demonstrations from chief engineers of the main technologies driving the clean energy transition.
Iberdrola has invested over £30 billion in the UK since 2007, and through Scottish Power employs over 6,000 UK staff. In 2023 the company successfully completed their biggest ever recruitment drive to fill 1,000 new green jobs. The shared ambitions of the Government and Iberdrola in industrial development and jobs have led the company to announce they will double their investment in the UK over the next four years to reach up to £24 billion, in a clear vote of confidence in the UK’s policy direction and stable regulatory frameworks.
Minister of State for Europe, North America and Overseas Territories, Stephen Doughty said:
Through our Plan for Change, this Government is taking a laser focus on driving economic growth, and a powerful lever for this will be showcasing what the UK has to offer overseas investors – including our friends in Europe.
Both Spain and Portugal will be an essential part of this commitment, and I will be speaking to key businesses that are supporting British jobs, investing in our economy and helping us become a clean energy superpower.
During his time in Madrid, Minister Stephen Doughty will also meet Spanish counterparts, to discuss cooperation on European security.
The Minister will also travel to Lisbon where he will spend time at the headquarters of Avincis Helicopter Services, provider of lifesaving emergency air services owned by London-based Ancala Partners. With UK exports in services to Portugal having increased by more than 10% in 2024 compared with the previous year, the Minister will discuss how the UK government’s support is helping the company to grow and continue their vital work across Europe, and the further opportunities to work together to create prosperity and opportunity.
With the historic Anglo-Portuguese Alliance dating back to 1373, the UK and Portugal share close links, from foreign and defence policy to people-to-people ties. Minister Stephen Doughty will see Inês Domingos, Portugal’s Secretary of State for European Affairs, following Portugal’s donation of €52 million for drones for the International Fund for Ukraine which will make a vital difference on the battlefield for Ukraine.
Notes to editors:
- Total trade in goods and services (exports plus imports) between the UK and Spain was £63.0 billion in the four quarters to the end of Q2 2024: Trade and Investment Factsheet - Spain
- Avincis is owned by the London-based Ancala Partners. In early 2023 Ancala Partners announced the acquisition of Babcock International’s aerial emergency services in Portugal, Spain, Italy, Norway, Sweden and Finland, renaming the company Avincis.
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